raising of fund through various modes and approved the issuance of NCD
SHYAMMETL · price
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Awaiting price reaction for this filing.
Shyam Metalics reported a strong Q1 FY26 with consolidated revenue from operations at ₹4,418.84 crore, up about 22% year-on-year from ₹3,611.61 crore. Consolidated profit after tax rose to ₹290.67 crore from ₹276.12 crore, with EPS at ₹10.45. The board declared a first interim dividend of ₹1.80 per share (18% of face value) with a record date of July 28, 2025. The board also approved raising up to ₹4,500 crore through various modes including equity shares, QIP, FPO, preferential issue, or convertible securities. Separately, the board approved issuing redeemable, unsecured, unlisted Non-Convertible Debentures (NCDs) up to ₹3,000 crore, with terms yet to be finalized. The 23rd AGM is scheduled for August 26, 2025.
The strong Q1 performance and 18% interim dividend signal healthy cash generation and reward shareholders in the near term. However, the large combined fundraise plan of up to ₹7,500 crore (₹4,500 cr equity-linked + ₹3,000 cr NCDs) could lead to equity dilution and higher debt, which may weigh on the stock until the purpose and pricing are clarified.